Hi ncc

Do you know that there are very very few reasons to wait to close out the "current" year. Certainly you don't have to wait until you are finished posting to the "current" year. You can always close it out and then post to it once it is called the "prior" year.

Here are the only reasons I have come up with for not closing the current year (some of them are trivial):

1) You want to have the option to unpost from that year (the single most important reason!)

2) You want to be able to EASILY retrieve subledger activity into that year (for example, AP invoices)

3) You keep lots of unposted batches and you want to organize them by year

4) You don't purge GL posting journals and you want to keep a "complete" set of current year posting journals in one file

Other than these points, the only other effect of closing out the "current" year is that it changes name to the "prior" year, and the "next" year changes name to the "current" year. But that's a good thing.

Steve